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Boeing sells 72 more 737s

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MarketWatch
Published:
FARNBOROUGH, England -- U.S. aerospace giant Boeing Co. announced three bulk aircraft orders on Tuesday from leasing companies and Middle Eastern airlines, bringing the total value of new business this week during the Farnborough International Airshow to about $18 billion.
It also re-established the popularity of Boeing's next-generation 737-800 jetliner, with 72 new orders for the single-aisle aircraft.
"We expect the 737 to be the backbone of our portfolio as we lease aircraft to airlines around the world," Air Lease Corp. Chief Executive Steven Udvar-Hazy said after announcing his company would purchase 60 Boeing 737-800s.
Udvar-Hazy declined to comment on the value of the contract, but based on list prices, the deal could be worth around $4.6 billion for the Chicago-based manufacturer.
Leasing companies have been big buyers during the air show as they prepare for a return to growth among airlines as the world economy improves.
Jim Albaugh, who heads Boeing's commercial aircraft business, said the aircraft market has rebounded more quickly than expected from last year's recession. By 2029, the global commercial fleet is forecast to expand by 64 percent, driven primarily by emerging markets.
Leasing company Avolon said it would purchase 12 Boeing 737-800 jetliners for $921 million for delivery beginning in 2012. Established just two months ago, the Ireland-based company plans to tap a jump in demand for single-aisle aircraft.
"Our market position feels solidified with this new order," Avolon Chief Executive Domhnal Slattery said at a news conference at the Farnborough Airshow.
Tuesday orders
Boeing
Sold 54 of its 737-800s to the new Air Lease Corp., which also has an option on six more of the aircraft, $4.1 billion.
Sold 12 737-8s to Ireland-based Avolon, another new leasing company, $921 million.
Airbus
None.
Bombardier
Luxury carrier Vistajet ordered six new aircraft, $277 million.
Sold four Global Express XRS jets to undisclosed customers based in Russia, $213 million.
Story tags » Boeing737Airbus

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